Ethereum (ETH) is showing signs of a potential rally towards $6,000 in the coming months, mirroring a multi-year gold fractal pattern. The analysis compares ETH's chart to gold's accumulation structure from 2019 to 2024, highlighting a near-identical five-point formation. Gold's breakout above $2,100 in early 2024 led to a 60% rally, and Ethereum appears to be following a similar setup.
According to technical analyst Crypto Eagles, Ethereum's current cycle mirrors a 2017 pattern that resulted in a 1,000% price surge. The current setup shows Ethereum rebounding toward a potential breakout zone around $3,500-$4,000. If the fractal continues, Ethereum could rally towards the $5,000-$6,000 range.
Ethereum's bullish outlook is supported by improving market positioning and rising institutional demand. Ether-focused investment funds attracted $321.4 million in the week ending May 30, according to CoinShares. This was the largest inflow among all crypto assets, signaling strong institutional interest.